Global Data Historian Market Synopsis
As per the latest evaluation by Market Research Future Reports (MRFR), the global Data Historian Market is anticipated to value USD 1,406.23 billion, thriving at a CAGR of 6.9% during the assessment period from 2019 to 2024. The adoption of IoT equipment is the most notable factor driving the global data historian market 2020. There has been a surge in the volume of data, which led to the actuation of the market. The enterprises are adopting the data historian to enhance work efficiency.
One of the most significant factors which are influencing the data historian market is the augmenting production of several products, materials, and equipment from several industries such as energy and power, oil & gas, and food & beverages. Moreover, the usage of various IoT equipment by these industries to share the information is further propelling the market. The data historian software is an essential requirement for the companies to evaluate and to make the production efficiency in the forthcoming period. This requirement has further propelled the market for the data historian market.
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A precise evaluation of factors augmenting and impeding the market in the post-COVID-19 environment has been analyzed. We will provide COVID-19 impact analysis with the report.
The worldwide data historian market can be segmented on the basis of deployment, component, application, end-user, organization size, time-series database type, and region.
Based on deployment, the worldwide data historian market can be segmented into cloud-based and on-premise.
Based on components, the worldwide data historian market can be segmented into software and services. The service segment has further been classified into professional services and managed services.
Based on application, the worldwide data historian market can be segmented into production tracking, environmental auditing, asset performance management, predictive maintenance, and others.
Based on end-user, the worldwide data historian market can be segmented into oil and gas, marine, chemicals and pharmaceuticals, paper and pulp, metals and mining, utilities, data centers, and others.
Based on organization size, the worldwide data historian market can be segregated into large enterprises and SMEs.
Based on time-series database type, the worldwide data historian market can be segmented into operational and open source.
Based on the region, the worldwide data historian market can be segmented into North America, Europe, Asia-Pacific, and the rest of the world.
The regional study of North America, Europe, Asia-Pacific, and the Rest of the World (RoW) has been performed. As per the analysis by MRFR, the North American region is projected to dominate the global market. The primary reason of regional expansion is the presence of various notable players in the region. North America was the foremost country to adopt data historian software program. Moreover, the region is technically advanced which is the major factor driving the regional market.
Europe acquires the second-largest market share in the market owing to the presence of several sectors such as metal & mining, automotive, chemical, and others. The major contributor to the market is the UK, France, Germany, Italy, and others.
The Asia-Pacific region is estimated to augment at the fastest pace during the forecast period. The region is developing in terms of digitalization, technology, and urbanization. China and India are estimated to make the most significant contribution to expanding the regional market.
the notable players of the global historian market are AVEVA Group (UK), ABB Limited (Sweden), General Electric Company (US), IBM Corporation (US), Honeywell International Inc. (US), Siemens AG (Germany), Aspen Technology (US), Yokogawa Electric Corporation (Japan), Emerson Electric Co. (US), and a few more.
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